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Irs Pub 550 Form

Irs Pub 550 Form

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Instructions and help about pub 550 pdf

[Music] hi it's the tax gig again with more of your taxes oversimplified today i'm going to answer the question what is a capital gain and how are they taxed the simplest answer is a capital gain is when you sell a capital asset for more than its basis but that doesn't do us any good unless we know what a capital assets are and b what basis is so let's look at those two concepts first we'll define a capital asset to do that we'll have to define what an asset is first an asset is anything that can be owned and has value assets come in two broad types tangible and intangible tangible assets are anything that exists that has intrinsic value examples of this are land appliances furniture automobiles and everything else you can see or touch intangible assets are just the opposite these are assets that have no intrinsic value instead these assets only have value because we believe they do examples of this are money stocks bonds patents or copyr

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